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tv   Varney Company  FOX Business  August 28, 2015 9:00am-12:01pm EDT

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webb, great to have you on friday morning. it's now time for "varney & company," always entertaining, stuart varney, it's all yours, sir. stuart: thanks, sandra. whoa, what a week! wild markets, hillary looking desperate and now trump's hair? i'm so glad you could tune in. good morning, everyone. let's get serious because we're talking first about your money. the dow will open lower today, but that follows a two day, 900 point gain. who knows where the dow will close? i can tell you this for sure, the price of gas is tumbling, now dropping 2 cents a gallon a day. i'm planning a long labor day drive. and it's friday, august the 28th, a very big day for hillary clinton. and after calling republicans terrorists, she is meeting with her party's power brokers, she needs to convince them that her campaign is in good shape and they don't need joe biden. and because it's friday we need
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some entertainment. roll the trump video, please. >> i don't care a toupee, it's my hair. >> it is. >> please, please. >> yes, i believe it is. >> so the news media, anybody want-- by the way, there's more in there, but i don't want to report it. hey, i'm just showing the stuff in the front. i don't have to go back. ♪ >> first out of the block, take a look where facebook will open today. about unchanged from yesterday, but it's been a very big week for the stock and for the company. please listen to this. on monday, one billion people logged on, that's a milestone, that means one in one day, one in every seven people on the planet were on facebook. now this. al-jazeera reported that story like this. six out of seven people did not use facebook on monday. [laughter] just sometimes.
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look at the futures market. we'll be down 120 odd points when the market opens, 28 minutes from now. but we're at 16,500, a long way from where we were say on monday afternoon. look at apple, they are the masters of hype and we will have more on the big iphone event on september 9th later this hour. is it a new iphone 6 or 7? i don't know and they're not saying, but making a big deal out of september the 9th. look at netflix. where is netflix this morning? down maybe a buck, ever so slightly lower. don't forget amazon had a terrific run this week after being way, way down on monday. 516 will be roughly the opening price on amazon today. all right, that is stocks. look at oil. what were we up, 10%? >> yes, 10%. stuart: that's a huge gain in one day. today we'll be down 60 odd cents, but we're at 41.91, that's oil right now. the good news, the price of
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gas, the plunge, ladies and gentlemen, the plunge long forecast on this program, another 2 cent drop overnight. the national average 2.51 a gallon and 19 states have a station where gas is at least under $2 a gallon. big thumbs up from the team. let's get really serious, shall we? hillary, comparing republicans to terrorists when talking about women's health. roll tape. >> about women, we expect that from some of the terrorist groups. we expect that from people who don't want to live in the modern world. but it's a little hard to take coming from republicans who want to be the president of the united states, yet, they espouse out of date, out of touch policies. they're dead wrong for 21st century america. stuart: two comments from me, it's desperation and number
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two, wildly over the top. what says-- >> she is literally wanting to sound like barack obama. who did he compare republicans to opposed to the iran deal, the iranian mullahs, to terrorists and we've seen this throughout the obama administration. two points of desperation, you're right. she wants to sound like obama because it's ridiculous that she's saying this and i think most people realize that, secondarily, she also needs to say something so outrageous that we will be talking about something other than the e-mails and the server and the fbi investigating her. she wants to be in the news without the word e-mail being in the same sentence. stuart: we fell for it, but i think it's over the top. i don't think-- >> no, you're absolutely right, it will not help her, but she will say more extreme things, get used to it, and the assessment is that this is a level of desperation, she is clearly in a-- >> attack. >> in a reactionary position which is not where you want to
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be at this point being her. you don't want to still manage the environment and keep your head above water like you've bohn tossed off the "titanic" and one piece of wood that you're hanging onto. stuart: the kind of speech i would have expected in 1968 as opposed to 2015. it seemed like so yesterday to me. >> the party is, you're right. they have those issues and she's a reflection of that. it goes thoo the nature of what marco rubio says, which is she's of the past. stuart: i'm going to stay on hillary. because she's tired of the biden talk apparently and falling off big name democratic supporters who might back biden. she has a big meeting with the democratic national committee and she wants to convince them this is a fine campaign and doing okay, you don't need joe biden. desperation again. >> yeah, look, if that was the case this meeting wouldn't be happening. the fact that she has to take the meeting that it's been set and biden is in means that all of that evolved. that she's going to have to try to convince them about something that she can't.
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it's the ultimate dynamics, she's trying to push something up the hill that will never go and the fact that she's doing it at all is the confirmation that she's in trouble. stuart: do you think that she will be the nominee? >> a little bit ago i would have said yes. i think that-- not that she'll fail in a fight. i think she'll withdraw. if she's not the nominee, it's because she's withdrawn. stuart: withdrawn? there's a headline. tammy bruce made a headline. >> she'll claim a health issue and i think that she would prefer to withdraw from that than to be beat be again. ashley: bow out. >> a repeat of 2008 and the scenario is almost identical to 2008. a surprise guy that nobody really took seriously showing up and beating the, you know, taking on. she was automatically going to be the nominee in 2008, behaved as such. it's a very bizarre repeat. it's being handled as badly. it might not be joe biden, but, it could be someone else and by
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the way, she also does have a health issue, she has the blood clot issue and so, it's feasible and we'll see. stuart: you just stole a lot of thunder right there. ashley: yeah, on the show. stuart: what do you say? >> residing with dignity. stuart: that's an option and prediction. >> not that the word dignity and her name have been in the same sentence. >> they're going to paint it as that. stuart: ouch indeed, ooh, more from tammy in a moment. we've got a couple of minutes to go. we've got 13 minutes to go before that market opens and the race horses are lining up at the end of a wild and crazy week. lining up china, slowing, devaluing, market crashing. market watcher kevin kelly says that china is not getting better. if it's know the getting better does that mean we're going to have the volatility because of china again down the road? >> i think that people are concerned that it's a growth
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scare, right? in china, it's not going to get better. they're trading at high multiples. the government is there trying to help on the market. stuart: are we talking about the market, the government trying to support the market there or the economy continues to slow and is not going to turn around? >> with he will-- well, both. we can see that with the price of copper, china is not getting better on the market side. every time beijing made a move it hasn't helped. they're going in and buying it. what they've done is actually a lot of the market participants can't trade there. the institutional investors because if trading halts for the rules, where is the next buyer in the chinese stock market? it's trying to find that. it could be the government itself, but that's not really going to impact the u.s. markets over here. we're not going to know that until the earnings come out in october so we'll have the volatility here based off of headline numbers coming out of china. we've seen the chinese pmi, the manufacturing index, be
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unhealthy since 2012. it's under 50 for the longest time indicating they're slowing down. stuart: i don't have to worry about them for a couple of months? >> no, but headline numbers are going to affect the u.s. markets because how is that going to affect large multi-nationals? we saw that monday where the russell 2000 writes, its volatility was less than the s&p 500, which is really shocking. it's never happened before. so domestic names are performing better than-- >> okay, i've got to break in for a seconded. i've got breaking news, on-line trading down. i don't have a-- they've apparently e-mailed it to me and i've not received it. stuart: it's coming across the wires at this moment now, schwab is a huge on-line brokerage, we know that. ashley: yes. stuart: on-line trading platforms at charles schwab temporarily unavailable, don't know why this is happening. >> call into schwab then, if your on-line system is down that way, call in.
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if you have to make a trade. ashley: and on monday, ameritrade and scottrade had problems because of the sheer volume of trading that happened on monday so we're not quite sure what the issue is. >> you don't think it's shenanigans, you think it's volume-- >> we wouldn't speculate about that whatsoever, but there have been on-line trading problems earlier this week. high volume and looks like we've got a problem with charles schwab this morning on trading platforms not yet open. what the nature of that problem is underlying it, don't know. but it makes you think, doesn't it. ashley: yes. stuart: especially if you're a charles schwab investor you want to get in and make a trade at opening bell, maybe you can't. >> this is their money business, how they make money is volume in trading, they should be set up for this. stuart: next case, i've got a question, are people growing tired of carbonated drinks? in my opinion, yes, they are. we will have the story from lauren simonetti. >> i agree with you. and so do the market analysts. bottled water will outsell soda in two years, the prediction
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from the industry tracker, beverage marketer. water sales volume grew at a 7% pace last year and will outpace soda by the year 2017. now, that's not necessarily all bad news for the soda giants. coca-cola and pepsico, together they have about a fifth of the bottled water market. i want you to check this out, this is the new 15-second teaser video for "star wars," the force awakens. it was posted on instagram. more than 100,000 people liking this already. see that right there, that cross guard light sabre, folks, i think it's a toy that they're going to buy. the lucas film comes out december the 18th. ashley: it leaves me utterly cold. stuart: 400,000 people have seen it? >> because we're addicted. stuart: so what? >> it's a 15 second video on instagram and people won't stop talking about it. ashley: they released it on
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intrasta gram. >> another video, too, and usain bolt. he was separating his world title and yeah, the camera guy on the segway loses control and butts into him and hit him in the calf, he is okay. and usain bolt later posed for pictures and there it is, there it is. he loses his control and-- >> breaking a leg or something? he did a somersault backwards. >> that was in beijing. >> he just won the cold in the 200 meter sprint. >> you can't go to china, china will just-- you get knocked down by a segway and everything is bad. >> and running over usain is like punching marilyn monroe in the face. you can't do that, you can't. [laughter] . stuart: it's bad. we promised you entertainment, tammy, and you've provided that.
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coming up, a promo, monday morning 5:00, tune into lauren, sandra, nicole, bright and early, you'll be there. >> yeah, technically sunday night have a good weekend. stuart: iran is backing terror in the mideast before the nuke deal is fully finished. and hundreds of generals and admirals are getting together to oppose that iran nuke deal. it's been ten years since this, earthquake had katrina. president obama turned it into a political issue. roll that tape. >> we came to realize what started out as a natural disaster became a man made disaster, a failure of government to look out for its own citizens.
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>> a state of emergency has been declared in florida. tropical storm erika moving across the caribbean. it left four people dead on the small island of dominica. and now it's headed to puerto
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rico. watch out for landslides, flooding in puerto rico. the storm could hit florida on monday. iran backing terror in the mideast. lieutenant bill cowan joins us now. i'm going to use you as a reporter. iranian proxy terrorists attacking israel? >> the iranians have been attacking not only israel, but the united states around the world forever since 1979. they're responsible for the deaths of many americans, 1983 american embassy, u.s. marine compound. i can give you a long, long list and during that period of time from '79 to now, including well over 500 americans killed in iraq due to the iranians. the iranians have been a state sponsor, not a fly by night group, but a state sponsor. >> has there been a rocket fir
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fired-- is that going on overnight. >> there were rockets fired from the iranian border. hezbollah launched attacks nothing as devastating as the 2007 war. hamas done in gaza continues to launch rockets. most of these things never hit the news anymore, but the fact of the matter it those separate entities are supported by iranian weapons and money. 200 retired generals and a admirals sent a letter to congress, reject this deal. those are retired. i want to know the guys currently serving, the guys who head up the army, navy and marines. are they in a position to express their opinion? >> they're not in this position at all to express their opinion. i have to say from what i hear that most of them are opposed to that. having said that they're working and have to show their allegiance and loyalty to the
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commander-in-chief. stuart, what's interesting about the lists, 36 admirals and generals who support the deal. over 200 that don't. i look at two lists and i see a stark name between the names on the list. those opposed are combined of real war fighters and warriors, many who specifically have dealt with iran and terrorism and issues like that in the past and i think that the difference is, the other side is mostly admirals and generals in the tank for this administration. stuart: got you. i'm sorry to cut this short. breaking news. thank you for being with us. breaking news, on-line trading down at charles schwab, no word on what caused that problem. we're also getting word of a technical problem at hsbc affecting 275,000 banking transactions. now, that's a banking problem. two separate problems, one with trading at schwab, one with banking at hsbc. next, high showdown with lanny davis. he used to be special counsel to the clintons.
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barely let me ask a single question. more "varney & company" in a moment.
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the e-mails problems. watch this. >> i'm not surprised you find it a surprise. your entire presentation is negative slant. it surprises me for stuart varney, it wouldn't surprise me in the other shows, but for you, it surprises me. the fact that you of all people slant a 18% third place showing with 1 is00% name i.d. in eight years as vice-president as a positive, sounds like a "saturday night live" satire of biased journalism. stuart: thank you very much, lanny, a pleasure to have you on the program. >> i'm surprised at you stuart, and the way you've become, i guess. i don't know what's happened to you, but that's now where you are. stuart: well, that's a nice insult. do come again, lanny, a pleasure through and through. ashley: talking about-- >> and i wanted him to respond to the question. >> clearly a charlatan. this is years ago, he called me a liar on the air very much an exchange like that and immediately afterwards, he e-mailed me, i'm sorry i had to
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do that, but you know, it's all part of the game, something effectively-- if you're going to call someone a liar and make a major position, that tells who this guy is. stuart: prepared to attack me at the get-go. interesting television. >> handled it very well. stuart: thank you, tammy. coming up,we are wrapping up a historic and wild week for stocks. the opening bell is moments ago, and we're going to open lower. facebook hitting a milestone, a record one in seven people on the entire planet logging into a facebook account. that's a billion people worldwide. how about that? more varney in a moment. >> they're searching for you.
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>> well, look at this. that's your last look at the futures market before actual trading begins. in the last couple of minutes, we've gone from minus 120 to minus 100 and i wonder if that's a good sign or not, i really don't know. in 30 seconds we'll certainly find out. that's when the bell rings and trading begins to end a remarkable week. in the news background today, there is nothing that really stands out. i don't think there is. am i missing something? the facebook 1 billion people logged on that's a story. ashley: that's a story,
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personal income and personal spending. in line with estimates. stuart: and we're going to get the buzzer. and talking jackson hole and fed, you're out of here, son. [laughter] five seconds to go. show me the picture of the clapping. there you go, it's friday morning and trading begins at 9:30 precisely. they look excited, but the market is going to go come down a little bit at least in the very, very early going. again, i haven't a clue how things will close. joining us ashley webster, cheryl casone, market watcher ken kelly and scott shellady is there in chicago. all right. the bell has rung. we are trading and right now we are starting with a loss of 40-odd points. okay? compared to the rest of this week, that's pretty mild. >> on a monday morning at 9:35, five minutes into the trading session, we're down 1,089. it is friday, we're 9:30, into the trade session, we're down 62. >> we could end the week in the
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positive, the crazy thing about the week. we could end up positive for the indices. stuart: the question for kevin making his living watch the market. the big selling is over? >> the big selling is over and we saw natural buyers coming in and starting to buy stocks. stuart: that's bargain unt hadding. >> this is the last place to get returns in this market environment is in stocks and it's good names. so, and you saw that on monday. the nasdaq was down over 8% and people were buying, and you'll see bids happening. >> 90 seconds almost into the trading session and we're down 46. how is that for a quiet friday morning thus far? now look at oil, anything, but quiet yesterday. a spike, a 10%, the biggest one-day gain in a long, long time. right now up $42 a barrel, down just 21 is cents. come in scott shellady.
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are you sticking with oil at 30 to 32 a barrel? >> yes, i am. we had a short rally, we want to see this lower. the inventory builds we got on wednesday were mildly bullish and sold off on the back of that news, the market was volatile at that time. the volatility is here to stayment i don't think that anything has fundamentally changed from today to last week this time. i'm bearish oil, but we have to get through this. we had a lot of people come to the party later and sold it low and got hurt yesterday. >> i've got to talk to you about gasoline, scott. i'm loving this two cents down per gallon, per day. i know that you're in the chicago area and the victim of a spike, that refinery is back in operation again, so, tell me. what are you paying for gas this morning? >> yeah, it rose from 320 to 270, and we have to wait for these guys to get rid of what's in the tank before they lower their prices.
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that's how it goes on the way down. stuart: i think gas will go down. i don't know about chicago, a special case there. i think that it will go down for the-- >> sure. stuart: did you say sure, charlie, the plunge arrived and i was right? >> i always say you're right, i'm not stupid. ashley: keep your buzzer handy. stuart: let's get serious. look at facebook, did they have a big day on monday or what? one billion people used facebook on that one day. that's one in several of all the people in the world. kevin, how could facebook not look attractive when they'll logged a million people on in one day? >> the only way they don't look attractive when al-jazeera says that six out of seven people don't use facebook, but they're the social media company. twitter is disputable. linkedin, and they're getting every day. they're looking at
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subproperties like instagram where the news star rows promo came out. 24 times next year's earnings and they're bringing it in 16 billion next year in social media ad space? who is everyone going to use for that? >> and what makes it so attractive. there are two demographics, the millennials and their grandparents and when you've got those two. stuart: oh. >> i didn't say that, you did. and when you've got the baby boomers and the millennials, the two biggest spenders in the world right now and facebook has them. >> facebook at 90 is-- >> you have to log on to get your information and they have the eco system around them. stuart: we're four minutes into the session and down just 53 points. we're used to wild swing, we haven't had it.
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ashley: hang on. stuart: look at smith & wesson, gun makers, raised their outlook. it seems the more crews for condition control, the more we buy guns. sales of sports rifles going through the roof. they are showing strong revenue beating estimates and very good earnings report. stuart: there is a correlation between the public cries for controlled, gun control. ashley: absolutely, we've seen it before. stuart: and people rush out and buy more guns. >> the regulation is not going to allow that. stuart: they feel that their beens are taken away from noi-- this. and a look at the iphone event on september 9th. cheryl, i don't know whether it's a new 6 or a brand new 7. >> i can only give you the buzz around the event and basically it's going to be an iphone 6 s
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and iphone 6 s-plus and might be an upgrade with the camera. they need to work and siri. remember how much you loved alexa, some other woman. stuart: other woman? >> old joke. but that was -- anyway, you know look, doing some work on siri. stuart: that was close, real close. >> maybe coming out of this the apple tv where people were expecting-- >> not coming? >> no, it's not. >> they're fighting with the broadcast networks. >> why would the broadcast networks want to give up content? the last thing they have that they can control. stuart: i'm going to let you back in, where is fitbit, down 2%. they were indeed because isn't
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the apple watch outselling the fit bit with the difference in price? >> the first estimates for apple watch sales and there are numbers behind fitbit. we don't have apple's numbers, they sold on the first quarter and second quarters more watches than they ever sold with the iphone and ipad. ashley: 2.6 million units and if fitbit-- >> if that's the case why is apple still at 111 or-- >> they're still there because the gross revenues are with the iphone. the over hang, are they going to exceed 5% in sales? and we've refreshed on the iphone cycle and the next one is next year. ashley: and china, too. >> the carriers are making them pay their own way and no longer
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subsidizing the phones. it turns from two-years to three years and that's why you see the overhanging p.e. stuart: my head is spinning. and the cholesterol people, the fda approved amgen's drug to lower cholesterol only for some patients, that's the catch. nicole: by the way, he said p.e. in case you want the buzzer ready. this is for people who have high cholesterol. a lot of people take the statins, lipitor, crestor, what they're talking about. with this particular drug, it's a powerful new class of drugs, they're injectables taken in conjunction with the statins and what they are saying and the fda approved it for the use, is you take this with your lipitor and it's for patients, especially, who have hereditary condition the hyper cholesterol
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and it's hair -- h hereditary. stuart: are you a suffer? >> high cholesterol level, 300, 400. stuart: and nicole? nicole: 250, 300. aside, whatever. stuart: i'm not going to give you my number. [laughter] >> big name stocks on the move. i'm going to start with netflix, look at it, it's down 43, where is apple. it's down a moment ago. 26 cents lower. i'm going to call that dead flat. facebook is now at 91. there's the move there. a billion people logged in on monday and up goes the stock. google, where is that this morning? where is it? it's down 8 bucks. that's over 1%.
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659, google. amazon, firmly above $500 a share and certainly was earlier. and i believe it is still now. and it's down about at 517 this morning. and do you like any of those that i've just run through? >> amazon is a great stock. yeah, absolutely, because they're expanding on their aws, web services, so actually we're talking about startups and cloud computing and they're using-- they have the infrastructure. aws is the main margins. and they are the cloud computing company, the first and foremost. >> we've been concentrating this entire year on the big name techs. apple, netflix, facebook, amazon they've been leading the market and you've got to have one in your long-term portfolio. you're into that? >> one of the reasons why they're leading the market is because they have some of the best balance sheets and some
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are starting to do share buybacks and they're shareholder companies and they can buy other companies. >> roll that videotape for me, this does not turn me on, but i'm told by a lot of people-- >> it's a teaser for "star wars," ashley the only thing i can say about this. >> you're going to go about-- >> i don't know about the movie, but the merchandise will sell really well. >> what's interesting about this franchise, unlike frozen, geared toward kids, the first "star wars" movie was released over 30 years ago, they're going to use different platforms such as youtube and abc to push the merchandise and star bars related and it's going to generate billions. stuart: this is for the grandparents of youngsters and the youngsters themselves. ashley: yes, a broad spectrum they like to say. >> 1977 was the first "star wars." stuart: i saw it in the movie
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house-- the cinema in san francisco. >> and the movie house. >> pre-sales are gang busters and this is-- people staying home to stream and drink a glass of wine. stuart: can i say cinema? >> yes, you can even spell theater r-e-at the end. stuart: can we have a serious story? mcdonald's, bad pr on chicken nuggets. and it's down just a little. >> mcdonald's has been a part of this, and the supplier, contract supplier at tyson chicken, that chicken went into mcdonald's chicken mcnuggets, a horrible video for mercy for animals, it was disgusting, the way they treat the chickens and mcdonald's cut off, tyson cut off the chicken supplier and there's a still shot. don't want to see the video, don't watch it on youtube,
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mcdonald's did the right thing and tyson foods, millennials don't want this garbage in their system. and chipotle as well, and this is like mcdonald's is having pr problems and fix it and fix it fast. stuart: one of the fed presidents saying that the fed could wait a little longer to raise interest rates. no immediate dramatic effect on the market about you it's certainly keeping the loss in check. we're down what, 69 points on a friday in a wild week. not bad. kevin is still here. he's corrected my english, corrected my grammar, he didn't get the buzzer and stocks that he likes, number one, gilead sciences ten seconds to make the case. >> low multiple compared to peers and one of the strongest names in the health care sector. they beat earnings and raised guidance. it's a leader. stuart: what do they do? >> gilliard scien--
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gilead sciences is biotechs and they partner with other companies, a health care stock growing faster than a pfizer. stuart: a lot of mention, in the last couple of weeks. see that popping all the time. uup, up. how about paypal, a separate stock that you can buy into and you like it? >> yeah, paypal can grow without the hindrance of being under ebay's brand and no longer seen as a competitor and they're democratizing the payments across the globe. they have zero debt on their balance sheet and they have $4 billion in cash and growing at 30% and that 30% growth was with ebay as a parent. now it's not a parent they're doing really well. so it's an opportunity they just spun off ebay. when you look at the market and trying to find spots of growth,
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you want to find safety. stuart: no debt, $4 billion in cash. >> and they're the leader in the payment industry. we hear you, behind the wild market swings this week, china. peter morici. that's his story. guy with the bow tie and professor of economics, his story is china. i want you to tell me is china going to collapse economically. >> no, it's not going to collapse, but the jig is up. it's markets a fraud. 60% of stocks are held by the government or state-owned companies that don't trade in them. the liquidity is thin. the reality is china's going to grow at 2 or 3% a year if you really strip away the nonsense and the united states is going to become the engine of growth again. led by technology. >> oh. >> i feel good about the u.s. market. stuart: hold on a second. that's interesting, because that's the theme which we've
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been concentrating on this program for a long, long time and american high-tech companies rule the world, and they're the best in their particular line of business whether it's apple or facebook, doesn't matter. and you're on board with that. you think that they will leave this market a lot higher? >> look at it, a bunch of up starts, and tesla beat bmw, ap that's an electric car, and ride handling and that stuff. the germans are trying to be the best for years. and tesla is out with them. i think that american technology is strong. one of the reasons that the eu anti-trust people come in, they went after microsoft and boeing and mcdonald's merger and so forth. american technology is winning, winning, winning. this is a new story from peter mauricesy, we're not used to this. when i interview you, i expect to-- china is eating-- sound like donald trump.
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china is eating our lunch, and taking our jobs and our money. that was your story. now, suddenly america rules, high-tech is us, we are the winners here. >> there's only so many manufacturing job in the world ap china captured about as many as they can steal. now, china to succeed has to do the kind of things that tesla does. look at the joint ventures in automobiles china has had and the opportunities it's created for chinese car companies to learn how to make an automobile. chinese simply don't import cars you basically have to make them there to sell them there and they can't make anything the world wants to buy. you know, t-shirts is one thing, assembly apple phones is one thing, but designing an apple phone, could manying up with twitter, coming up with tesla, a whole other ball game. where the ka pt company where it's misallocated can't get it on the bond rating. can't put in play the venture
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capital necessary to win at technology. the game is changing. >> it reminds me of japan. the supermen of the economic world in the 1980's, they crashed in '90 and never come back. are you saying it's something similar in china? >> i am a weird person. i started studying economics at age 12. in that time over the last 52 years the russians were growing more rapidly than us, going to eat our lunch. the japanese were going to eat our lunch. the asian tigers were going 0 feast on our dinners and now china. china is going to be a vibrant and mature economy and it's going to be something to be reckoned with, but the notion that they have reinvented capitalism and don't need market forces is an absolute fraud. what you basically have here old men and that i remember sons grasping for power cooking the books. remind me of xerox when going down the tube. there's nothing honest about china.
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stuart: the sound bite machine. peter, stay there and peter mauricy is saying something similar to you. >> they were pegged to the doll and had to deval the yuan and impacted them, but china inflates on the technology side. think how they've copied apple and taken their-- and they basically took apple technology and design and made it their own. that's why we have amazon here and baba there. they copied it and filled it out themselves. stuart: look at the big board, almost 20 minutes in the session, the low of the session we're down 98 points, okay, 96, 97 points, know the a huge loss bearing in mind what we've seen earlier in the week. more on the markets and everything in a moment.
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sandra: >> now we're down 78 points, we were down 100 and now down 77. look at the dow winners, there are some. intel, chevron, exxon. why are chevron and exxon up? look at the price of oil. spiked 10% yesterday and it's up a little bit more this morning, 42.61. that's the important quote. president obama calling hurricane katrina in part, a
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man made disaster fueled by poverty and government inaction. listen to this. >> and we came to realize that what started out as a natural disaster became a manmade disaster, a failure of government to look out for its own citizens. and the storm lay bare a deeper tragedy that had been brewing for decades because we came to understand that new orleans, like so many cities and communities across the country, had for too long been plagued by structural inequality that left too many people, especially poor people, especially people of color, without good jobs or affordable health care or decent housing, too many kids grew up surrounded by violent crimes. stuart: all right, you heard it. john stossel heard it and he's with it right now. you took a deep breath in the
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middle of that sound bite. what do you think of it. >> the endless stay, inequality, government didn't do enough. government spent $22 trillion on the welfare state. he could have said, sorry, we taught you to be helpless and that's why you were helpless. we paid for flood insurance to encourage you to live in low lying areas and make the hurricane force. stuart: we wouldn't reform education run the by stalini stalinist-- >> and since katrina, the schools got better. stuart: which is doing something about the education. the basic critique, the government didn't do enough for you. he blamed government inaction. >> look at the spin and the times what you're saying, praising federal action. >> i don't know what world we live in here. stuart: i was told it was george bush's fault that he didn't care about the people of new orleans and it was their performance-- >> and fema did a bad job, it's
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true, but government agencies almost always do. they don't have the right incentives that business has. stuart: it's rewriting history, entirely the wrong way. come on, judge, pound the table on this. >> i do pound the table. it's just wrong and people don't get it. people keep saying, more government. we're spending $4 trillion, but we didn't have enough for this or that. stuart: we hear you. >> tonight we rank the 26 presidential candidates and yes, 26 people are running. stuart: you rank them? >> to my criteria. stuart: i thought so, yes. >> it's my show. stuart: look at the list, guess who is at the top, rand paul, the libertarian. and then johnson, the former governor of new mexico, the legalization of marijuana as i recall. >> that's one thing and he also cut spending. stuart: number three on the list is martin o'malley, the former governor of-- >> now on the bottom of the
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list. stuart: oh, i'm sorry. i didn't know-- >> the wrong candidate. >> and mike huckabee second to last. stuart: why? >> ouch. >> he wants to have government in the bedroom and spending more all over the world. stuart: what was that stein. who is that? >> she's the green party candidate. stuart: you've got to tune in tonight at 8:00, the show, "stossel" at 8:00. hillary clinton compares republicans to terrorists she says if you oppose planned parenthood you're no better than an islamic extremist. we'll discuss. 200 high ranking military officers sent a letter to congress saying the new deal with iran is no good. retired jack keane on this one. the second hour of "varney & company" two minutes away.
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wild week of trading, dow jones average down a mere 35 points. as for the price of oil it spiked 10% yesterday, a little more now, $0.30 higher, $42.86. look at facebook, 1 billion people, that is how many log on to facebook monday alone, worldwide, 1 billion. hillary clinton compares her republican opponents to terrorists. is she desperate? question of the day. "varney and company" hour 2 starts now. look at this, it is 10:00 eastern, half hour into the session, we are down 39 points. can we call that stability? wait till the last hour of trading?
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apple at 112, down fraction. if you bought it earlier this week it is 92, that is the low monday. -for netflix where is it now? 117. the low on monday was 85. amazon right now well above $500 a share but wait for it, monday the low was 451. no good trying to take the absolute bottom. here is where everybody is making money. national average $2.51, it is dropping $0.02 per gallon per day, and 19 states have one station selling gas, $2 a gallon. and eric bolling is with us, he
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traded, used to call oil trading the widowsmaker. >> welcome to the oil market. doyle has been trending down. 69, it could go below 50. 49, went below 40, 30 or so with the global. it is buried on the way down, everyone deegan to that whole thing's it is outgoing down further. the widow ofmaker on both sides. hi am going to take a little victory lap. i was doing a show called happy hour. january 29th for so, i beg president obama to put 1 billion barrels of oil into the
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strategic petroleum reserve, however much, buy oil at 39, even with 10%. stuart: you will think again out of 28? >> markets don't spike like that and that is it. and the top is made you test the top of you times and it fails. 01 time spike doesn't happen, you have to test it to see if it is a real and when a number is held, 33, 35, 30, if it held the second time, you know what? didn't get 35. maybe 39. stuart: what you did for many years, you think, you say this is going down well below 40.
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and how it reacted at those lows. every many traders. >> stop being a traitor, big picture, i say $35 oil, $40 oil is real good for america. i say it is fantastic. >> a lot of people say you don't know what is going on in the oil industry, it is terrible, they pay well. it will take some pain at these prices so the better of the general economy, but $2,000 per household in people's pockets, they spend it. look at the retail stocks, as far as apple, doing fantastic with low oil prices. stuart: it is only 10:00 in the morning, seven hours before he appears on the five. >> toasting the o'reilly factor
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tonight. "cavuto coast to coast" when you got your word in. will you wear a tie for the o'reilly factor? we appreciate it. i am going to move on to the iran subject, near the 200 retired generals and admirals sent a letter to congress urging lawmakers to reject the iran deal. how do members of the military feel? they are not allowed to speak out but i know you know are they opposed to this deal? >> i think the overwhelming majority of them are opposed to the deal. the same reason the american people are as well. they recognize and friends our vital interests in the region and is dangerous for national security.
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that essentially is the major opposition when you get into the details of it. stuart: is your big problem fact that the iranians will inspect their own nuclear facilities? is that the big problem? >> that is part of it. nuclear reactors left in place is another. agency in centrifuges and activate and in ten years, enrich uranium in ten years, all restrictions are removed in 15 years and therefore they can acquire a nuclear weapon. is astounding, the president and the white house's major argument, a stock iran from having a nuclear weapon. any examination of the deal tells you it is a path way. stuart: may i ask the sign the letter. >> appreciate you asking. i was asked to sign it but chose
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not to. i respect everybody who signed that letter, any american citizen wants to express' 8 viewpoint to their congress, that is an american right and it should be exercised. i chose to respond to the queries of the congress themselves so i have given testimony four times this year, a couple times the iran nuclear deal was discussed, i have given multiple breedings to the house and senate where this subject was discussed and i responded to queries from presidential candidates so that is how i choose to express my views in public discourse, more directed and based on the solicitation of me. stuart: you oppose the deal. >> fundamentally. i agree with all the tenets in a letter and the other thing that is troublesome and is not dealt with in a deal whatsoever, iran's desire for regional hegemony using proxy wars and proxy terrorism to do that, $150 billion is what they get from the deal, ballistic
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missiles in eight years and back on the arms market in five all of which will help them achieve their geopolitical object of of regional domination. the deal facilitates that. stuart: general jack keene, always a pleasure, thanks for being with us. >> good talking to you. stuart: still on iran donald trump and ted cruz teaming up to rally against the president's nuclear deal. liz macdonald coming in with the story. liz: ted cruz invited donald trump to september 9th rally on the west lawn of the capital to basically blast the iran nuclear deal. both of them said the deal is catastrophic for america, ted cruz said if he is elected he would reduce it to shreds. donald trump has said if they get this steel iran will have nukes all over the place. the question publicly is who does this paid dividend for? the word on the street is ted cruz. in the long run the stronger alliance between donald trump and ted cruz bolsters ted cruz's
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following, donald trump is picking up a lot of adherents. stuart: i don't think ted cruz has attacked or criticize donald trump. donald trump has attacked the criticized ted cruz. liz: we saw that in the gop debate ted cruz did back off and said he agrees with donald trump's positions on immigration. stuart: this is september 9th. liz: the day after congress returns to capitol hill september 8th in d.c.. stuart: they are looking for a lot of people. >> the tea party alliance. a big event. stuart: florida declares a state of emergency at of tropical storm and a. >> a busy weekend for them. tropical storm erika is causing damage, mudslides and four death on the caribbean island of dominica. erika is lashing pr, heavy rain and wind, she could build to hurricane strength and slam florida possibly monday or tuesday. folks down south already making
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preparations. apple is holding their big iphone event sept. 19 san francisco at an auditorium that holds 7,000 people. what are we expecting? we expect apple to announce the iphone 6-s or 6-s plus, its new color, better camera, looks like a pebble on the invitation and movement, that is what you called butterfly, it suggests ball paper on the new iphones might be animated. that is the big deal. apple might show us an update for the watch and apple tv. i know you are not into this story but 175,000 people. this new teaser video was released for star wars, the force awakens. it was posted on instagram, a short clip shows the new scenes from the movie including the hero wielding a flight saber. beneath him star wars we get
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crazy. stuart: i am not interested in the movie, not interested in that clip. i am interested in the merchandise going on sale before christmas. i got to tell you, i know you keep saying billions, have nine grandchildren, not one of them is going to be interested in that star wars. ashley: the age group that will go after this -- liz: stuart: nine and under. ashley: it did you did it over 30 years ago, this movie. stuart: what did the producers say? i am told to shut up. you want more of this tune in monday morning, 5:00. this is a great show. i am making a joke. you want to get organized as your day starts. you watch that show. it is a good one. thank you. next, millennials to help elect president obama could put donald trump in the white house.
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the mystery behind the donald's famous hair has been solved. more varney in a moment. >> i don't wear a toupee. it is my hair. i swear.
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stuart: the ceo of ashley madison, you want have an affair, or you use to. the site was packed, release of names and details, kerri million where it released. that almost ruined ashley madison's business. this week stability. 16-6 is where we are. 30 stock of dow industrials.
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and straight forward green. alcoa, you remember it them? the dow stock, 5.5%. chesapeake energy, $7 a share, up nearly 6%. back to politics, donald trump and the millennial vote, can he bring them in? charlie kirk is getting nervous, we think of this as our millennial guy. a poll says 52% of millennials prefer the free market over government, 52% prefer capitalism to socialism. if that is the case with millennials will they go for donald trump? >> in some ways. what donald trump is doing is able to channel lot of the angry
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young people and old people, the older voters are feeling towards the political system. i don't think it is much about donald trump what he is saying but how he is saying it. donald trump is able to have this kind of rugged authenticity when talking about the d.c. political class. the most effective argument donald trump makes especially for millennials is how he talks about how easy it is to buy out politicians. 80% of young people believe the system is rigged and donald from it mid is not as rigged contributed to be part of it for so long, he could be solution. in some ways trump could channel the energy but i don't think by any means he is the particular answer to that but there are positive trends. stuart: people like the way he talks and addresses the issue. this is back in 2007. millennials identify themselves as 33% liberal, 16% conservative. fast forward to now, 40% of millennials say they are
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liberal, 33% conservative. conservatives have moved up in the world since 2007. put a big smile on your chase because you have something to do with that. >> really working hard, and tearing that flag when it is not easy. there are a couple reasons and i think personally, but failed big government policies of the left contributed towards lower shrinking of that margin but also let's look at the effect of republican governors that the people's lives better. the biggest job creating states are republican governors putting forward pro-growth policies. the margin is shrinking and the youth vote in 2016 is up for grabs. in 2008 barack obama was able to get in the white house especially in 2012 for his reelection thanks to young people and republicans channel that energy and trends towards pro-growth free-market ideas. stuart: democrats will have forgiveness of debt as you can see, that is not a vote i don't know what is.
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i digress. one more for you. it is still on donald trump. he asked a young lady to touch his hair. can't make this up. roll tape. >> i don't wear a toupee. it is my hair, i swear. come here, come here, come here, come here. we are going to settled this. is it mine? >> it is. >> say it please. >> yes, i believe it is. stuart: that is political entertainment. you are letting, the tenth time you have seen it and you know millennials will laugh it up. >> donald trump is the most transparent person running for office. we can honestly say that now. it is kind of political theater rented get people laughing, get the connection to the candidate but what other person would invite an individual from the stage to ask if their hair is real, all kidding aside, donald
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trump is able to do is connect with the everyday person. he talks in a way, the political class doesn't always talk, it is not repackaged sound bites, talk from the heart, grass-roots appeal, a lot to be said for that. stuart: learned a lesson, you are going to be the president of the united states. charlie kirk, thanks very much. moving on to a very difficult subject. there is a horrific tragedy in europe. 70 immigrants from north africa found dead inside a locked and abandoned truck in austria. thousands more march into the hungarian border to escape radical islam. york has a huge immigrant problem. it is the crisis. my take on that is coming up next.
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stuart: look what else we have lose some say this is a low blow from hillary clinton directed at republican opponents comparing those who don't support planned parenthood to terrorists. new details on top-secret projects at amazon. this of they got in the pipeline. 3d tablet without silly glasses you got to wear, a kindle with a battery that lasts two years on a single charge. very interesting guests, top guy in his field will tell us about that. europe has been hit with yet another crisis. hundreds of thousands of people are fleeing in north africa. they are desperate to get away from militant islam. a crowd on to boats and by by the thousands. they have swamped whole greek islands. 10,000 of them are marching
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together like an army to the hungarian border, rushing to get in before they close it down. 70 were found dead in a locked and abandoned truck in austria. what is europe going to do? they are not equipped to deal with a crisis of this magnitude. they don't have the money to care for the more the manpower to soften getting in. it is a huge humanitarian crisis. there is another problem. most of these refugees are muslims. europe already has a security problem with its large domestic muslim population. there is intense opposition -- opposition to letting in more potential security risks and since much of europe has double-digit unemployment there is inevitably a lot of hostility to bringing in more people of any religious right. liberals already criticizing europe for its response to the crisis. typical of the self heating, self-defeating nature of the modern left. the real blame lies squarely
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with militant islam. isis, the guys with guns and religious fervor, they have wrecked much of north africa, they are the ones creating this crisis and it might help if the western world was honest about what is going on. islamic terror is a blight on the whole world. it would also help if president obama word to use those words, islamic terror, tell it how it is. these two oil rigs look the same.
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. stuart: well, look here. friday morning after an up and down week on wall street, and i'm calling this stability. a down a near 39 points. 16,006 is where we are. now look at disney. that's at $102 per share. if you bought this thing on monday morning when it was at its low, it was 90. you would have made some
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money. the real story on the market, though, is oil. 10% up yesterday with up another 1.84 now at 44 .38. that's real movement. the price of gas, i'm saying the plunge has arrived. down 2 cents a gallon a day. back to 2.51 as we speak. 19 states have at least one gas station where below $2 per gallon. back to the news we broke earlier. ashley madison ceo stepping down. this follows the huge hack that hit the company earlier this month. liz. >> revealed that he even though he said he has never cheated on his wife, he has children, the e-mails in this hack reveal that he was cheating on his wife, and he was having some affair. so that is coming out in the e-mails now. stuart: is that the reason yes stepped down. >> i don't know why he stepped down. stuart: did the hack kill the company? >> yeah,.
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stuart: if you're trying to conduct secret affairs and everybody knows what you're up to, you're not going to use that website again. >> yeah. stuart: the business is dead. >> the business it is dead. stuart: whether or not he did, the business is dead. >> this is what happens to a company that reports to be secret in the world of hackin. stuart: oh, boy, that's a great story. >> yeah. stuart: stay on it, please. to hillary clinton comparing republicans to terrorists? listen to this. >> views about women we expect that from some of the terrorist groups. we expect that from people who don't want to live in the modern world. but it's a little hard to take coming from republicans. stuart: leslie marshal is with us. she represents democrats, am i right so far, leslie? yes, i think i am. >> yes. i don't represent democrats, i am a democratic.
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stuart: okay. got it. i think hillary clinton was way out of line. i think she sounds desperate. and i don't think any candidate should be comparing their opponents to terrorists. what say you? >> well, first of all, she didn't say the republicans were terrorists. what she said and you just, you know, played the sound byte. she said that the extremist views on women's that we'd expect that from terrorists. and you know what if we look -- stuart: yeah, but you're passing words, leslie. >> no. you've got to look at what's been said. stuart: you know she was. she's in a corner, she's lashing out. >> no. she's not desperate. we have -- i think it's desperate to say from one republican candidate, i'm going to use -- and pair phrase in the military, the fbi, the national guard to prevent a woman from getting an abortion. we have another that say women's health issues should not be funded and we have another calling a top journalist, a bimbo and saying horrific things about women.
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i don't think she owes an apology. i think some of the people making these comments in the gop should perhaps be giving an apology. donald trump to latinos, for example,. stuart: listen to what marke marco rubio said on fox this morning. >> they won't call terrorists terrorists going back to bee benghazi. stuart: well, you heard that. do you want to respond to marco rubio? >> well, i've always said, and i think we constantly get hung up on semantics, if there's a terrorist act, you call it a terrorist act. i think what happened on fort hood is a terrorist act and once they have the knowledge with benghazi that that's a terrorist action that that should have been said by the president and the secretary of state. if president obama says terrorists or islamic terrorists and i know that you want him to, that's not going to change the path or the goals of isis, and it's not
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going to help us defeat them. stuart: okay. >> so to me, say it, let's move on. stuart: okay. you said. look, she's not desperate. well, listen to this one. when asked to describe hillary, the three most common words that voters in a poll said -- the three most common words associated with hillary were as follows. liar, dishonest, untrustworthy. you know, leslie, i think that's a problem for the presidential candidate if those are the three most commonly used words to describe the candidate by regular voters, i think that's a problem. >> i would agree with you if we have this consistently going forward. we have to look at the fact that one, this is summer. two, her leading opponent on the right, donald trump is probably hated equal or -- stuart: hold on a second. hold on. this -- the same poll asked the same question about trump. and there were negative words used to describe trump.
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however, the polling sample was far more negative and used those negative far more times against hillary than against donald trump. >> again. this is a woman who is a did you believe digit with the exception of new hampshire over her opponent because of course joe biden isn't in the race and we don't know if he will be. although i would say if i were to advice mrs. clinton, you need to look at these polls and take some of this information very seriously and certainly that would be an image issue. and i have said it before on your show, even i think last week that she needs to come clean if you will and address the e-mails, make an apology, move on. stuart: yeah. >> and because she hasn't done that, i think there is this perception and some of those adjectives are directed at her in this poll. stuart: i think she's looking for money, and i think she's going to tell the dnc don't go with joe biden.
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i think that's an area of desecration that she's in right now. leslie, i'm sorry to cut it short like this. i've got to go. it's a big day, big show, you know how it is. leslie marshal, thank you for joining us. appreciate it. now this. a new nlrb, national relations working board, making it easier for people who work freelance get the same benefits as full-time workers. it's going to have a huge effect on all kinds of businesses, especially in the food industry. let's welcome apple metro ceo who runs and owns 37 apple bees in the new york area. all right, zayn, this ruling, i know it's very technical stuff. what does it mean for you, how bad is s is it for you? >> well, not just me, the whole space. a franchisee, picks his site, uses his money, gets no help from the franchise, he's a businessman.
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stuart: yeah. >> he pays a fee to use the mark, use the name, get a broad advertising piece and core menu. shortly of that, you run your own menu. franchises are always at odds to some degree because you're using their mark but your money. stuart: okay. >> now he's held liable along with you, his intrusiveness into running your business. not his money, not his hirings because he is liable on the litigation side of any workplace violations that occur. stuart: oh, that's what this is all about. >> right. so all of a sudden now he has to take an active interest into $180 million. buy in large we use this operation ourselves. we use their mark. stuart: yeah. >> use their core menu. stuart: apple bees; right? >> yeah. and we use some of the computer systems. i fire with hire, i fire, i run it.
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i don't want applebee's, how in the world can someone in bismarck, north dakota run an operation in san francisco, california or in new york city? the mentality is so dramatically different than reality. these guys in washington, you know, i ho hate to quote any candidate who calls our president of the united states stupid and all these other -- there's no other word. i shutter a little bit when i hear you call the president of the united states stupid because he's my president as well. i don't like him, but he's stupid. stuart: now, you're the guy who runs 37 apple bees franchises. >> and 39 restaurants. 4,000 people. [4,000 people. all of a sudden because of this ruling you've now got to look at issues which you didn't think you had to take care of. >> i suspect folks in kansas applebee's is headquarters will start to want to look at
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things that are none of their business. ask the relationship that exists they want me to do this, and i say, like, for the new york mark market, we have to do that. and you're in kansas, i'm in new york, i know what i'm doing in new york. i don't tell you what to do in kansas. now they're liable. under certain. stuart: okay. >> it's really difficult for me to say go back to kansas if they have an exposure on things that i do. my litigations are my litigations. stuart: yeah. >> fortunately i don't have a whole lot of them, but they are what they are. and i deal with them. if i created them, i have to deal with them. if i created them and they go and come in and want to deal with them, all of a sudden they're looking over my shoulder in ways that cannot permit me to operate. you know,, stuart, these guys in washington, because it comes from the president, the norb. he appoints them. stuart: yeah. >> they're so ignorant on what happens on the ground and the realities of running a company and the headwinds and the competition and the money and the borrowings and all the
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things that go on to run a business, these guys don't have a clue. stuart: they don't care. >> i'll give you a quick analogy. they're running around in a bumper car in a amusement park, they think they can get behind the wheel of a real car and drive down a road at 80 miles an hour. they just don't know. they know how to drive a bumper car for sure. stuart: we're used to seeing it asteamed but not asteamed as this. >> and, stuart, this is right behind changing the election period from 45 days to 10 day. stuart: for the unions. >> well, the unions are driving this. stuart: come back when i've got more time, zayn. you've made your point. cut through the nonsense here to the nitty-gritty. thank you. >> thank you. stuart: it is now time for the sector report. oil making a come back and then some. we're looking at the oil stocks, just look at them, that's the sector we're looking at right now. exxon, mobile, chevron, shell,
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all of them are up today. no surprise there. oil has gone back up to $44 a barrel as we speak. so that sector up today. how would you like an e reader, like, a kindle, for example, that only needs to be charged once every two years? amazon might have you covered and 1 billion people log onto facebook one day monday this week? that's one in seven of the people in the world? michael gorman up after this break. >> you know, they're building planes to fly for days at a time to provide internet access to parts of the world where that's more difficult. so you're looking at them having a lot more users potentially in the near future just by virtue of them building out this internet a subconscious. a knack for predicting the future. reflexes faster than the speed of thought. can a business have a spirit?
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can a business have a soul? can a business be...alive?
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>> i'm nicole petallides with your fox business brief. and the dow jones industrial down 58 points after an extremely volatile week on wall street, today you can see a little bit of a pull back to the dow down a third of a percent. the s&p down 3 and the nasdaq down 7 opinion the s&p right now at 1984 and the dow at 16,599. some of your dow movements, chevron, intel, chevron leading the way. oil gainers, again, right now oil up a buck and a half after beginning 10%, the biggest gain in six and a half years and this is act vision going into the s&p 500 today after,
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that's call of duty, the game everyone loves and the united airlines going into the s&p 500 on september 2nd. freeport, carl icon taking stakes, $900 million worth. join lauren simonetti and me
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stuart: look at arrow, its hit a new low. now at 89 cents. 11 straight quarter losses for that company. it was a $4 this time last year. eighty-nine cents right now. please look at amazon. its well above $500 a share. but you could have bought it for 451 on monday of this week. now, there's a chart. 451 the low on monday. did you spot a bargain? 515 right now. how about that? and, by the way, amazon has some exciting new things in their pipeline. michael gorman with us. very popular guest, michael, thanks for being back. >> thanks no having me. stuart: now, this pipeline from amazon, the stuff they've got coming to market soon. i'm intrigued the idea with a kindle with a battery that lasts two years on one charge. is this is this reality? >> i don't know it sure is a good rumor. it's something that i think just about everybody would be
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interested in. battery life is something that plagues a lot of gadgets, phones in your pockets. stuart: yeah. >> e readers are doing better at it than others and we've got kindles that lasts week on a charge. two years? that sounds like they could be working on new battery technology. certainly they're getting better at making the kindle to use less energy, so i think it could be real. two years seems an awful long time though. stuart: sure does. those of you of us who use these things, it sure does. i think they've got rid of some engineers who were working on the fire, the smartphone, they've kept a lot of engineers to work on things like this battery. but you also told us about a 3d tablet where you don't have to wear those goofy eye glasses to see it. tell me. >> right. so there's -- if you are familiar with nintendo at all, they've been using this in one of their portable
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gaming consoles that uses a special kind of technology that uses that 3d depth effect without the glasses. the only thing is you have a pretty narrow view of that. so you've got to kind of be looking at things strayed on to get the 3d effects. so amazon could be working on that. that's kind of existing technology or they could be doing something totally different. either way, i think glasses free 3d is certainly a much better way to go about it because people are not too keen to have to carry around an extra pair of specs. stuart: and you would look ridiculous. how about facebook? i'm sure you heard the news that on monday this week a billion people around the world logged onto facebook. that's one in every seven people in the entire world. >> yeah. stuart: now, that's really something. that just set off a bell in my head when i heard that. >> yeah. stuart: a billion -- that's an extraordinary event that a social network can get a billion people in one day. >> yeah. stuart: what's your take? >> i mean it's incredible. you know, it just speaks to how facebook has gotten really
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good at getting people what they want and kind of connecting them together. they've also been pushing in to kind of these new markets, you know, you don't get to billion people by just focusing on europe and, you know, north america really. so they've gotten really global in their efforts. they've developed -- you know, they continue to evolve their technology and kind of deliver stories and updates from people that other folks want to see. so i think it's a test meant to how effective their strategy so far. stuart: last time on the show we were talking about facebook's pipeline with the rift. the idea that you can watch a movie inside your own head, that's really cool, ain't it? >> it really is. you bet. it's one of those you can create a virtual movie theater that you're the only person sitting in there. so how great is that; right? stuart: yeah, have you just to get rid of the seasickness. that's all it is.
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you're a favorite guest. people really love you because you've got hard information. we like it. michael goldman, everyone, with gadgets. you'll be back. watch out. the price of oil on a tear, and we're going to take you right to the oil pits of chicago. jeff flock is there. tell us what's going on. and remember this. my fight with lanny davis yesterday. got a lot of buzz on the internet. viewers love it. doug coming up at 11:00 with that. ♪ ♪ ♪ if you can't stand the heat, get off the test track. get the mercedes-benz you've been burning for at the summer event, going on now at your authorized mercedes-benz dealer. but hurry, offers end august 31st. share your summer moments in your mercedes-benz with us.
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see car insurance in a whole new light. liberty mutual insurance. >> well, take a look at this video. you're seeing people standing at a bus stop in china when that happens. suddenly the ground swallows them up. it's a sinkhole. five people fell in suffering minor injuries. it was all captured on a security camera. terrifying. let's take a look at oil. not so terrifying, it is moving higher today. 41.40 right now after weeks of trading down. jeff flock is at the cme in chicago, another day where we're seeing oil rise. >> huge move right now and i'll tell you why. we're at 186, this is session highs, ashley and the reason is this. it's the hurricane, well, not the hurricane, the fears of the hurricane.
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there are some models now, which are not up there yet but we're seeing that take it potentially into the gulf. that of course is big bullish for oil. again, we're at 185, session highs right now, up 1.84 to 44.41. gas prices, though, still good news. this is not impacting gas prices at this point. today down another 2 cents. down 12 cents since this time last week. so good news, oil prices rising but gas prices down and we've got to watch that hurricane. also the refinery in new jersey, also a report that that has gone down. that's also bullish oil driving the price today, ashley. >> very good, jeff flock, thank you. >> two hours of varney in the books, here are the highlights. we've got more varney for you two minutes away. don't go away. >> she wants to sound like obama because it's ridiculous she's saying this and i think most people realize that but
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secondly she also need to say something so outrages that we'll be talking about something other than the e-mails or server, and she wants to be in the news without the word e-mail being in the same sentence. >> those opposed to the deal are comprised of real war fighters, real warriors, those who dealt with iran and terror issues in the past and i think the difference is the other side mostly admirals and generals in the tank for this administration. >> donald trump is able to have this rugged authenticity when talking about the class. i think donald trump the most effective argument donald trump makes, especially millennials is about how he talks how easy it is to buy off politicians. over 80% of young people believe that the system is rigged and donald trump admits it's not just rigged, but he contributed to be a part of it for so long you had some blocks and you had major thoroughfares and corridors that were just totally pitch black. those things had to change.
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we wanted to restore our lighting system in the city. you can have the greatest dreams in the world, but unless you can finance those dreams, it doesn't happen. at the time that the bankruptcy filing was done, the public lighting authority had a hard time of finding a bank. citi did not run away from the table like some other bankers did. citi had the strength to help us go to the credit markets and raise the money. it's a brighter day in detroit. people can see better when they're out doing their tasks, young people are moving back in town, the kids are feeling safer while they walk to school. and folks are making investments and the community is moving forward. 40% of the lights were out, but they're not out for long.they're coming back.
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stuart: today, friday august, the 28th is a big day for hillary clinton. she's meeting with a democratic grandy, the people
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with the money and the power. she has to convince them that her campaign is in good shape and the party should not jump ship for joe biden. it will not be easy. hillary clinton continues to lose ground in the polls, yes, she's in the lead but that lead is shrinking. in iowa yesterday she drew a small crowd, nothing like the numbers that turn out for bernie sanders. she's sounding desperate, comparing republicans to terrorists. now, that's on top of the poll that showed liar to be the word voters most associate with her and there's something else. the fbi investigation into her e-mails. does president obama know something about that probe that we don't know? is that why he's leaning towards a biden run? is something new about to marriage? what a mess. a poor campaign, a poor performance in front of the cameras, a direct link to a fbi investigation, and joe biden waiting in the wings. so, yes, today is a very big day for hillary clinton. when she meets with party
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leaders, she's got a lot of convincing to do. ♪ ♪ ♪ ♪ . stuart: friday morning. almost lunchtime. down only 68 points on the dow industrials. it's been a wild week but a relatively stable day thus far. let's move on, please, and show me the price of oil. will you look at this? now it's up nearly $2 at 44. we have a reason. there's a possibility that the storm erica could move into the gulf, got a shutdown -- maybe this is not confirmed obviously. maybe it goes into the gulf. the mere threat of that puts the price of oil up nearly $2. that means its gained about 14, 15% in two days. there is good news, however, on the energy front. gas prices keep going down. 2.51 is your price nationally. that's down 2 cents a gallon a day. get out there and drive. and the stocks we've been watching all week start with
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netflix. if you would have bought this thing back on monday, you could have got it for $85 a share now it's at 118. that would have been bargain hunting. did you miss it? >> darn. >> everybody did. a lot of people anyway. look at amazon. there's another big mover this week. another stock if you bought monday at the deep, deep low. you could have got it at 451. it's now at 516. ouch, baby. let's get back to my take. you may have seen it moments ago. what a mess for hillary clinton. poor campaign, poor performance in front of the cameras, linked to the fbi investigation and you've got joe biden waiting in the wings. look who's here? let's see if he's still a democrat, his name is doug, he's joining us from the beach there in miami. have you jumped ship yet in this face of desperation of hillary clinton calling the gop terrorists. have you jumped ship? >> absolutely not.
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there's one word you didn't use, stuart, for hillary which is front runner and it isn't just the polls that say that. stuart, i always go to british sources and makes hillary clinton the odds on favorite to be nominated and elected president. . stuart: what do the british know about american politics? >> a lot. [laughter] . stuart: wait a second. hillary's lead is shrinking. today she's meeting with the dnc i believe, the power brokers of the party. she wants money. she's got to tell them don't give your money to joe biden, don't give your support to joe biden, there is an element of desperation, and i think you'll admit to that. >> i think i would say there's a crisis in the campaign, certainly the use of the word terrorist was a big mistake. she's yet to have a clear narrative developed but that being said, i don't think bernie sanders is going to beat her and joe biden is running well behind him and
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her and the antihillary vote. stuart: joe biden hasn't even declared whether he's running or not, he's merely interested and he's getting 20% of the vote in iowa? >> he's the sitting vice president for eight years. the fact that he's only getting 20% of the vote after eight years and having run for president for i guess this would be the third time says to me that he's not exactly the most spelling candidate. stuart: so we're going to leave this with you being kind of comforted by hillary's performance. you think she's going to be the candidate. >> no. i'm not comforted by her performance, i'm comforted by her standing in the polls and the opposition she faces and the 17 republicans who are trying to beat her. . stuart: all right. that was pretty good come back. i'll give you that. >> thanks. stuart: don't go back to the beach yet. things got a little testy between myself and lanny davis yesterday. he worked for the clintons, so did you. >> yes.
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stuart: i'm going to roll tape and then i want your comment. >> sure. >> i'm not surprised that you find it a surprise. your entire presentation is a negative slant in one direction. which surprises me for stuart varney. you wouldn't surprise me. stuart: i find it interesting. >> shows you of all people, it surprises me. but the fact of awe of all people slant an 18% third-place showing with 100% name id and eight years as present as a positive sounds like a saturday night live of satire of journalism. stuart: well, thank you very much, lannie, it was a pleasure to have you on the program. >> i'm very surprised of you, stuart, and that's how you've come, i don't know what's happened to you but that's where you are. stuart: well, that was a nice insult. do come again, lannie, it was a pleasure through and throug. stuart: now, i know you're in miami. i think you can hear that. what do you make of it? lannie is a attack dog, isn't he? >> well, stuart, he's an advocate, he was an advocate during impeachment.
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he is a very effective advocate. i will tell you i've come on your show quite happily, willingly for i guess five, six years now, it is a enormously pleasurable experience to be on with a straight forward journalist who is unfailingly correct and equally pressing in his analysis. stuart: okay. so i think you'll be back tomorrow. >> wow. >> no. stuart, you -- you make a case about hillary that is a fair one that deserves airing. i think there's another argument that is justified but i think makes good tv and journalism is the clash of the points of view respectfully. stuart: fair point. i do have to ask this question. >> sure. stuart: you're in the political business if i can call it that. >> i would say that, yes. stuart: you're in politics. >> no. i don't take it as such. stuart: good you shouldn't. would it be possible for someone like you who has worked over their lifetime for democrats, is it possible that you could be hired by a republican? is that out of the ball --
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can't do that in politics? >> well, i did work for three terms for a man who was a republican mayor of new york. and then an independent mayor of new york, michael bloomberg, so anything's possible, stuart,. stuart: i'm waiting. have you been approached by any candidate. >> no. i have not been approached, and i'm far more interested in coming back here as a neutral observer than i am as an advocate. stuart: has the draft biden committee been talking to you? >> i think am there are two groups that are unlikely to call. the draft biden committee and the hillary for president committee, even though i've worked for the clintons in the past. stuart: yes, you have. doug, it was a pleasure. get back to the beach and enjoy that. >> always a pleasure. i will thank you. stuart: check that big board. look at it. it's been a wild ride for this week for sure. but look at it now. that's not a wild ride. i'm going to use the word, again, a stability.
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i mean i'm looking for a better word,. >> that's a good word i think . stuart: yeah, i'll take it. stability, ladies and gentlemen. 66 down 34. and john is here, he too has rushed the story from the beach in bermuda. stop laughing. i would like to be where you are right now, young man. big tech names. there were bargains they really week, netflix, amazon, apple, google. do you like any of them even though they've bounced off the low? >> yeah. cbs, i tried to get into it, you couldn't get into it because a lot of the program halt trying for a bit and i missed a lot of the tech names. i do like apple a lot. if i can get back into apple, i would love to be in apple right now and also amazon. i think amazon is just doing everything right. this idea of putting all of your profits back into your business. that's what ceos are supposed to do. and he has been vilified for that and all of a sudden now starting to make money.
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i think they're hitting on all cylinders. those are my two favorite of the tech stocks. stuart: i want you to do an objective critic of this program because throughout the year the stocks that we've had on the screen there, we've been concentrating on them. we've said that they have led this market. they're america's standout high-tech companies, they rule the world of technology. do you think we've gone overboard with this? >> no. because that's the leaders, these are the runs that's driving the stock market. look at the run that netflix has had, it's been nothing short of phenomenal and its changed the way we've viewed television. a lot of these companies have. they've completely changed the sector, the leaders, i think you're completely appropriate in covering the stocks like. stuart: you do i think you heard the news that facebook had a billion people log on monday. i think that's a first, to me that's a sensation that any one company should be in communication with a billion people in one day. i find that astonishing.
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would you buy it at 90, john? >> i think i would, yes. this is an amazing company and the transformation. mr. zuckerberg is a very intelligent guy. you knew he was going to figure this out. twitter has not. facebook figured out the mobile part of it and they also figured out the video. you have a lot of sports and big organizations putting video on facebook getting millions of views. they realize there's a huge revenue stream there. facebook has final figured out the video and the mobile out and that is a huge for this company. >> is facebook over saturated at this point? too many users. can they get more in the u.s. or western europe or do they have to ina and africa? >> six out of seven,. >> provided they have the internet. >> that's right. stuart: john, before you leave, i have to tell you how al covered this story. the story is that one in every seven people on the plant logged into facebook on monday. they saw it the other way around. six out of seven people did
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not log onto facebook on monday. i just thought i would share with you. go enjoy yourself, lad. it's friday afternoon. come on. see you later. >> have a great weekend, stuart,. stuart: oh, i will. president obama visiting new orleans tomorrow, the 10th anniversary of hurricane katrina. listen to this. >> we came to realize what started out as a natural disaster became a man made disaster. a failure of government to look out for its own citizens. and the storm laid bear a deeper tragedy that had been brewing for decades. stuart: it sounded a bit like a campaign speech. >> absolutely. and nothing like his speech back in 2010 the last time he addressed the nation. the five-year anniversary of katrina. yeah, he had some valid points. 100,000 people fled from
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new orleans but basically he's not campaigning. >> government for the not doing enough. stuart: not spending enough. >> he wants more government. and the failure the city was vulnerable before katrina hit, and it was just made that much worse. stuart: yeah, and he talked about the schools. what has he done nationally to get the schools reformed, like, charter schools, voucher systems. >> they have bought into new orleans. stuart: very successfully. >> yes, they have. stuart: but his first act as president was to knock off and kill the voucher program, well, tried to in washington d.c. >> yeah. stuart: a couple of hundred black kids, they wanted to be educated in these charter schools or voucher systems and they sai no, you can't do it. >> and opportunity to once again. stuart: a campaign speech. >> to make a campaign speech. >> i don't know what though? >> well, more government spending. stuart: he wants his successor to be a democrat. now this. president obama's national labor relations board just redefined the word employer. could have big implicair
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employees. full story in a moment
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stuart: i'm going to use that word again. stability. dow in a mere 42 points on a friday lunchtime. the dow, by the way, is up 1.2% on the week. who would have thought after monday's performance? look at smith & wesson gun makers. sales are up 12% and the stock is up 8%. the more they talk gun control, the more guns we buy. >> that's right. and the board to redefine the term joint employment. the move could have a big impact on franchise businesses adam shapiro is here to break it down. what does this mean to franchises? >> it's going to be a lot of trouble franchises and potentially some of them may find it very hard to do business going forward. let me give you a defeat from the international franchise situation about why they think this is a horrible ruling. and this is from their ceo
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quote ignore 50 years of court and regulatory rulings and will ultimately harm our international economy. here's why. 780,000 franchises nationwide, they employ close to 8.5 million people, and they have an output economically of $890 billion. that's almost -- think about that, $18 trillion economy, it's almost a trillion dollars. this is a big issue. the national labor relations board is now going to -- on a case by case basis and here's a hypothesis. mcdonald's is a brand, there are franchisees who operate their mcdonald's franchise, textual a union could go to organize the franchisee. but picture mcdonald's, the brand in order to pressure the franchisee to their negotiating table and mcdonald's would be part of the negotiation with the franchisee. it makes no sense. it is bureaucracy and a new layer of bureaucracy that the case by case basis is how the
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mlb will consider this and this is definitely a political situation. it broke down 3-2 on the mlb, 3 democrats versus 2 republicans does. it was a political move. stuart: that's what it is. thank you very much indeed, adam. earlier today i spoke with appl applebee's businesses. he runs 38 applebee's. he was saying that he too is going to be negatively affected by this national labor relations board ruling. i'm going to bring in an attorney, his name is michael, you work with labor groups. this sounds to me like a real brob for businesses, especially franchise people. tell me all about it. >> well, i represent all kinds of businesses and this is a huge problem. not only for the for example industry but for any b to b relationship because there's all different kinds of relationships business wants
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to have one plus one make 11. you make widgets, and you decide you want to hire food service for your employees, so you hire my food service. one of my employees shows up for the union button, my manager tells him to take it off, i got an unfair labor practice, my unfair labor practice is now yours. and that means that they're your employees and suddenly unionized. they begin to negotiate me at the bargaining table and suddenly you're at the bargaining table with me. they're striking me, they're striking you. so this creates an enormous amount of conflict between the b to b relationships. so instead of one plus one making 11, maybe now it makes minus 11. stuart: wow. that means -- now, i'm trying to look at the motivation for this. i'm looking behind the ruling. is it an attempt to push unionization -- in particular into the fast food business? >> the answer is yes. i've been doing this for about 40 years and there's been one constant during that period of
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time. virtually every one of those years union market penetration has gone down. so today in the private sector it's about 6.5%, 7 million people. and unions are desperate in order to gain market share. and this is a huge labor board gift on labor day to organize labor because it's going to give organized labor opportunities to create many more leverage factors against employers that they hope ultimately will lead to additional members and return on the investment that they're making because the seiu, for example, has already put in about 50 no, i would try to organize the fast food industry and that's just one industry in one segment of the franchising business. but, again, it's way beyond franchising. it's any b to b relationship. stuart: now, this ruling. could it be overturned within the time frame of the obama administration? >> the technical case where the decision came down for different reasons that the
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labor board has cannot be directly repealed. there are other cases that are probably in the system that might ultimately get to the court's faster. whether that happens during the next year and a half of the obama administration is highly, highly speculative. however, senator alexander announced yesterday that he was going to introduce legislation to over turn this. chairman klein, he's very concerned about this, the national franchise association and the coalition to save local business is heavily involved with these issues. so they're also may be some legislative activity, there may be some hearings in the house and the senate. there's an appropriation strategy because business is really co coalescing around this. stuart: it's a complex technical issue for many, many people, but i think you've sliced right to the heart of it, and we appreciate it. >> very kind of you. thank you very much. have a good weekend? stuart: yes, sir. thank you. obamacare.
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do you realize that under obamacare, under the terms of it, peter chains must post the calorie count of a pizza on a box. or somehow interested. just tell everybody what the cal -- >> they have calories? . stuart: is this part of obamacare? yes, it is. isn't that astonishing? what the devil has calorie count has to do with obamacare? we'll explain can a business have a mind? a subconscious. a knack for predicting the future. reflexes faster than the speed of thought. can a business have a spirit? can a business have a soul? can a business be...alive?
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xfinity is the destination for all things taylor swift. stuart: you know, if we hold this shot long enough, you may see the dow jones average turn positive. it's only down 9 points. isn't that something? in fact, the dow, the s&p 500, and the nasdaq are all now up on the week. >> and by quite a bit. stuart: by quite a bit. that's right, yeah. been a crazy, wild ride for stocks. look at google for a second. on monday it touched a low of 593. it's now at 660. did you catch the low? >> sixty-seven-dollar profit. stuart: usually caught that one. and look at netflix over the past week. monday morning it was back to 85.50, netflix is now at 119. >> wow. stuart: dow still down 10 points. okay. a new obamacare rule requires restaurants to post
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calorie counts is very costly for pizza makers. lauren, you know more about this, but i'm going to chime right in. >> go ahead. chime in. stuart: how on earth could you possibly calculate the calorie count when you've got maybe 100 different toppings and different combinations. >> pizza hut said if they were to do this, they would have to calculate the calories for 2 billion different combinations. >> well, that's news there itself. they said they did push back the timeline to next december if you have more than 20 locations, you must have on your menu the amount of calories in each pizza. they say a this is impossible because of the sheer number but b it's going to be at least $5,000 per store. guess what? >> they clearly don't run a business, these lawmakers. >> pizza hut, june 2015 four pages -- look at this. you like the personal pan, the meat lovers one, ashley,
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850 calories. >> i don't like it so much now. >> if you care so much about this, you would go online. stuart: yes. >> why do you do you need to go into the menu board? and guess what? who goes into the pizza hut or dominoes? we order online. it's a waste of money. stuart: there's a digit divide. not everybody is online therefore not everybody can check on the computer. >> well, six out of the seven people on in the world are not on facebook. stuart: no, one out of seven people are on facebook. >> six out of seven are not. stuart: i just don't know why calorie counts don't have to be on the menu as part of obamacare. i just don't get it. however, republican presidential candidate ben carson, now, he's a retired brain surgeon, one of the world's best, by the way. he says get rid of the veterans affair administration. he's got a plan to replace it. now, pete is with concerns veterans of america. i'm going to ask pete what do
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stuart: okay. the dow jones savager down 6 points now but 30 seconds ago when we were in commercial it was positive. now it's down 4, down 2, come on. >> make it snow, stuart,. stuart: all right. you won't.
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check the prices of oil. a barrel of crude is 44.78. there's worry about the storm. >> erica. stuart: going into the gulf and shutting down platforms. that's why its at 44. i've got another good headline for you. price of gas. gerri willis is with us. gas is falling 2 cents a gallon a day and the national average is 2.51. i'm going to call that a plunge. >> we'll check it on monday. >> i've got to fill up. excuse me? stuart: got to fill up. [laughter] andy is with us right now. now, you forecast on this program that oil's going to go down to 34. that's a separate forecast. please deal with the price of oil now at $44 a barrel. that's the gulf storm that may go to the gulf; is that correct? >> well, i don't think that erica is really going to affect the gulf of production because it has to move all the
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way over to the new orleans area. but i think what you've seen the last couple of days is the significant short covering rally following the gyrations and the equity market as well better gdp growth. so the market has gotten very he short and now we're seeing this rally. stuart: am i wrong then that this spike to $44,00 $44 a barrel is not reeking havoc in the oil platforms in the gulf? >> well, i would tell you it's a small possibility but way, way over to the eastern shores of the gulf. so i don't see it affecting the louisiana offshore production. stuart: you're killing me. you're killing me. let's get back to the other point here. you still thank oil will drop to 32, $34 a barrel at some point soon? >> yeah. i think bleakest days for crude oil are in the next six months, refineries going into maintenance, which impacts the demand side, and i also believe that congress
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will not be able to override obama's veto of the iranian agreement and that will add iranian oil in the first quarter of 2016. but on the other hand if we make it through then, i'm going to see $55 a barrel for wti. stuart: so we're going to go down and go up to 2016. andy, i'm going to cut this short because we just rolled the breaking news graphic there. we didn't sound the trumpets, maybe we should have. sound the trumpets. >> quickly before it loses speed. stuart: hurry up and do it -- >> look at this. oh, please. [laughter] . stuart: i shouldn't have done the trumpets. we're back up. up 1.3 points. >> all right. you go. stuart: did you make money playing the market this week or did you completely miss out? gerri willis is here. it was a real could have, should have week, wouldn't it? >> a lot of people sitting
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back saying, oh, my gosh i missed the opportunity. big opportunity for individual investors if they were able to get on the low on monday down 1,000 points. but take a look at the four horseman here because these were real opportunities, starting with apple, they hit a 52-week low on monday as you know 92%. up 22% on that. stuart: 22% since monday. the low. >> since the low. stuart: that's huge. >> facebook. here we go again. up 26% from its low of $72. stuart: 72 to 91? >> in this painful to look at? where was i? netflix. it's up 38.5%. stuart: 38% in a week? five days of trading? >> yeah. from monday. their low is 85.50. twitter hit a 52-week low. if you're trying to get into twitter shares, you missed it, my friend. it's now up 27%. stuart: of course you're talking about the absolute low. >> absolute low. stuart: to now. >> and your likelihood of
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nailing that is pretty small. stuart: of course you're playing a dangerous game, though. you're wetting the audience's appetite. >> and get those numbers in positive. >> that's why a lot of people don't play and they didn't look at their 401(k) this week and they let it play out. stuart: yeah. >> starbucks a lot of people want to own starbucks. up 32%, ford up 20%, delta, ge, jp morgan, there's a stock out there in obscure but large. irish insurer based in the cameons up 063%. stuart: that's a special factor. >> it must have been highly under valued. but let me tell you. you. >> you named all strong companies. stuart: yes. >> the companies are still strong regardless of what naps china. stuart: that's very true. and next case. republican presidential
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candidate dr. ben carson says we don't need a department of veterans affairs. instead veterans should have health savings accounts that would pay for treatment at any facility. joining us now from concerned veterans for america pete hexer. i like that plan. get rid of the va and let's go totally private. i love it. what about you? >> dr. carson knows two things very well, he knows health care, and he knows that the single payer top down government run health care system that our veterans forced to use right now does not work. now, i wouldn't use the word get rid of the va. what our group has done, concerned vets for america has put fourthly the plan where you can overhaul it, turn it into a government charter nonprofit organization so it runs like the health care facilities like dr. carson is familiar with, and then you give a veteran a real choice. that's where you do give them a premium support amount of money where they can go to a va facility or private provider.
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it's got to happen. stuart: you could do it so quickly; right? just give them a voucher and say here's a $20,000 voucher, go spend it where you want. what's wrong with that? >> i'm attracted to that idea it's just not exactly that simple. you've got to make sure that some of the specialized care that the va does well like ptsd or you've got to make sure that va can excel and follow through on that maybe we don't have the amount of care in the civilian sector on and then you've got to give the majority of veterans the choice to where you want to go. i shouldn't be talking about throwing it all away because he's going to invite a ton of opposition from transitional veterans groups that's unhelpful to ultimately getting to a point where you can say a veteran deserves a real choice to go to a private provider if they want to go. stuart: pete, i've got to interject for a second. that was for my words. i said carson saying get rid of it. i don't think ben carson -- >> he did. stuart: he did?
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>> he did. he talked about folding into the defense department. and others have talked about that. it's just not that simple and there's some things that you've got to hold onto and give a veteran a choice. i appreciate the sentiment but the rhetoric could be tighter . stuart: but what you want is to get rid of it -- i'm using that word again. to find a way around this awful government bureaucracy which never works in the interest of consumers. >> i want to put the veteran at the center as opposed to the bureaucracy and when the veteran is at the center when the follow the vet to the facility, it changes the reasons for all you know. competition, the va to compete, all of those things change the environment of a you are thely dysfunctional environment. so he knows va doesn't work, let's give a veteran a choice and that's what our report, i'll do a little promising here has a little fixing task force report.
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call me maybe, mr. carson. we will sit down and it's a great plan and i think we can give a veteran a choice, that's what veterans want. stuart: you could be a va advisor to a presidential candidate. just walk right in there. >> hand on the plan right there. stuart: that's pretty good. >> i love it. stuart: thank you very much indeed, sir. we appreciate it. >> thank you. >> oil has just gone about $45 now. up 6% on the day. continuing to rise. stuart: and i was wrong. the principle reason is not the gulf of the storm going to the gulf. it's short covering. >> and it's also the collapse of this fear trade to steal words. he said that earlier this morning on the 5:00 show the economy is stronger, oil can go up. by the way, best gain in almost five years. stuart: 45.09 right now. >> yeah. stuart: it's been a wild and historic week, big swings on the market, 1,000 up, 1,000 down, question. how will we end today? i haven't a clue and neither do you. >> no. stuart: but we're going to take you to the new york stock exchange next
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>> i'm nicole petallides with your fox business brief. right now the dow jones industrial down 53 points after a volatile wild week, we just kissed into the red, we were up over 10 points. we are hearing from some media networks basically saying there's been no decision on the rate hike in january. i mean in september. that may spook the markets a little bit.
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pull it back, energy has been a big story, oil up 2.30 -- 30 cents. yesterday we gained over 10%, the biggest lose we've seen in six and a half years. and 44 points for oil and energy names leading the name on the s& s&p 500 diamond offshore. big loss, second quarter numbers came out. they've lifted the four-year, big lots surging 14%. tesla, supply for battery factor. that's up 2%. and 5:00 a.m. fbn a.m. you focus on making great burgers, or building the best houses in town. or becoming the next highly-unlikely dotcom superstar. and us, we'll be right there with you, helping with the questions you need answered to get your brand new business started. we're legalzoom and we've already partnered with over a million new business owners to do just that. check us out today to see
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offers end august 31st. share your summer moments in your mercedes-benz with us. stuart: now, we are told that millennials constantly go -- not to doctors, they go to clinics. walk-in clinics off the street. why do they do that? i'm told that half of them prefer to go to these clinics, in fact, there's a survey out about it. they don't trust doctors, it's inconvenient, no, they go to the clinic. just walk in off the street. emergency care kind of places. look who is here. dr. marc siegel is with us. what don't you like about it? >> well, first of all, it's increasing health care costs dramatically. stuart: you don't care about that. you're just guarding your own monopoly business. that's what you're doing. welcome to the show. [laughter] >> what happens when a millennial goes to one of these clinics and has a problem that requires follow-up?
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who do they go to then? >> web md. >> exactly. they go to google, look up symptoms on google, this is the modern day but there's no continuity of care. and, you know what, does? . stuart: what. >> it saves health care dollars because if i know what the diagnosis is, it duplicates test. stuart: you live in a big city, for example, you get a little illinois, what do you do? call up the doctor, can i get an appointment. >> they'll say, yes, in three weeks time. stuart: yeah, can i go all the way down -- no, if i just walk around the corner, there's what do they call -- >> the clinics. >> walk-in clinics. stuart: they're all over the place. >> there's a subgroup of millennials that are smarter than you. they don't use these clinics because with all due respect to doctors out there that are in these clinics, they're not as good as doctors that are in university clinics. not necessarily the most highly trained. but they know about online services that will allow them
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to make appointments in doctors offices. that's a new feature that's interesting. stuart: yeah. >> but at the last minute you can't get in. >> you can search last minute get a appointment. stuart: doing that and going to a clinic. >> because once you're in that doctors office, that doctor can make you a follow-up clinic. go to an er or emergency clinic -- you can't go to a urgent care clinic and have a follow-up. they're not going to say to you come back next week. they're just there for instant strep throat or bronchitis it's a one-time deal. stuart: they can prescribe drugs, painkillers, they can fix you up. what's wrong with that? >> 90% of upper respiratory infections are viral and do not require. stuart: 90% of -- [laughter] you just want the fees to keep rolling in. $50 a pop or $100 at the siegel office? >> listen. we're not making what we were
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making in the golden days. stuart: exactly. i'm not making fun of you, doctor, you're a serious guy, and i do take your point. >> yeah. but i do think it doesn't help the health care system to have fragmented car. stuart: thank you very much for being our punching bear this morning. check that big board. a few seconds ago we were up a couple of points. now we're down 50. liz claman is at the exchange. liz, if i were going to ask you how the market's going to close today, you couldn't tell me, could you? >> not a chance because we have watched the last four sessions volatile last hour, you have to stay tuned for that and all of the fed out of jackson hole and i know, stuart, you anticipate those like you anticipate the last 20 seconds of the kentucky derby, it's so exciting for you. but we had a pretty exciting interview with minneapolis fed president, he's not worried about gdp or lei or ism, none
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of that alphabet soup of economic data. here's what he told me really has him fretting right now. watch. >> my main worry is that we might have a conference five years from now about how the fed made a mistake in raising rates and that -- you guys stuck in a very low environment as a result of that. look at the fraction of people who are age 25 to 54 prime age population who have a job. that remains well below what it was in 2007. even though we've seen improvement in that, there's room for more improvement. >> stuart, he's nervous. he doesn't want to go down in the history books as having derailed a fragile recovery but on top of it, he doesn't like the inflation rate, there's no pricing power, he doesn't like the data. he says, yes, we're looking better so i pushed him and i said when? when on the calendar should we raise? watch 3:00 p.m. eastern. he will tell you. stuart: that's what we'll find out what's going on in the last hour. liz, we will be watching 3:00 today live from the floor of
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the new york stock exchange. thank you very much. >> thank you. stuart: we'll be right back. more varney after this no matter where they are. the microsoft cloud gives our team the power to instantly deliver critical information to people, whenever they need it. here at accuweather, we get up to 10 billion data requests every day. the cloud allows us to scale up so we can handle that volume. we can help keep people safe; and to us that feels really good.
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approaching medicare eligibility? you may think you can put off checking out your medicare options until you're sixty-five, but now is a good time to get the ball rolling. keep in mind,
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fear of instability, fear of a slow down, more devaluations. big problem. china. was the fear justified? come on in. the president of the demand institute, her organization understands on focusing on demands. welcome to the program. >> thanks, stuart,. stuart: our viewers must pay very close attention to what you've got to say because you went to the london school of economics okay? >> i did. stuart: a fine institution. what a place. you've got to have a brain right there. now, you're telling us that we should not worry about china. make the case. >> so it's not that we shouldn't worry about it but what's going on in the markets is -- it's a short-term issue. it doesn't necessarily connect a lot to what's happening in the real economy and there's a longer term structural change that needs to take place in china to move toward more consumption led growth and the big question is that's going to happen or not. stuart: but that would be good news, wouldn't it?
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>> it would be great news. stuart: rely more than on exporting stuff rather than importing, that's pretty good news for us; right? >> yeah. it's great news. china -- even with the recent events in china, china we still think stands as a great opportunity for businesses operating there. it's, you know, gdp growth is slowing but it's still compared to the rest of the world is pretty high. and there is this expectation that consumers are going to play a bigger role in a natural course of development and that's going to be good news for businesses that are operating there. stuart: can you just discount their real estate problems, you know, the ghost cities. can you discount the huge loss on that stock market? doesn't that wipe out. >> yeah. stuart: a degree of consumer demand, a degree of consumer spending? >> sure. i mean it -- what it does is it increases the level of uncertainty around when and how this transition is going to take place. stuart: uh-huh. >> it's not to say that china
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doesn't have some major issues to work through. but it's not -- it's not time to hit the panic button as yo. stuart: so you're looking at a time frame here when they hit the transition, you think the transition is coming, it's a question of how fast and how strong it is. but, look, luis, go ahead you've got ten seconds. make your last point. go. >> yeah. it's going to be a matter of when and how fast the transition take place. . stuart: all right. i'm not worried. i'm listening to you. you went to lse, you know what you're talking about. come back when we've got more time. this is very interesting. >> thanks, stuart,. stuart: thank you very much indeed. the dow is down 89 points now. more varney after this
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>> with that being said, i don't think bernie sanders will beat her and joe biden is run behind him and her. stuart: he is convinced hillary clinton's campaign is not a then much trouble as people might say. connell mcshane in for neil cavuto. he likes you a lot better than lanny davis. >> we are here looking at these markets for the last week we've been experiencing together. the dow was down 72 points on a friday. universal happened the rest of the day. it is really without exaggerating one of the wild weeks. you don't see wild weeks like that appeared to be down 500, 200, up 360. oil is a part of it. the movement we've seen in the oil market is something we will focus on the show today. yesterday 10% higher.

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